Wanna Minimize Risk & Maximize Returns? Newbies or Holders Should Try Copy Trading
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With cryptocurrency prices going up and down, the current crypto market lends itself to making money with volatility. However, traders frequently lose money because they misread the trend and direction, trade emotionally, or do not employ stop-loss and take-profit effectively.
Fortunately, Bexplus has launched Copy Trading to make it easier for novice or amateur traders to make money and learn the trading skills from successful traders. In the meantime, it provides a channel for excellent traders to show themselves and gain extra income.
Welcome to the fascinating world of Copy Trading!
How Does Copy Trading Work?
Assume you enjoy trading cryptocurrency. You may search the top traders for someone who trades Bitcoin, looking for someone who has had long-term success trading BTC. You may then examine his performance statistics and, if you believe he is worth following, select to copy his future deals.
You may use these traders’ proven experience and apply it straight to your account. The advantage here, especially if you are new to trading, is that you can copy some seasoned and brilliant traders. If you wanted, you could simply filter by past performance, select the best trader, and copy every transaction they make.
Another thing to keep in mind is that when you copy signals, you do not have to copy the same amount of capital that was invested in a transaction. You can select the copy-trade volume, ratio, as well as the take-profit and stop-loss points freely to control the risk. It is entirely up to you how much money you want to spend on trading.
How to Choose a Good Trader in Copy Trading?
Although Copy Trading is based on actual performance data, keep in mind that just because someone has performed well in the past does not ensure that they will continue to perform at that level in the future. Because this is trading, there is always a danger, and all traders, even the greatest ones, will incur losses.
The challenge is to find traders who have a solid basis for success. Consider the following factors while looking for a trader to follow:
How long has it been in trading? Short-term results might be deceiving or reliant on luck rather than talent. Look for traders that have a long track record of success.
How consistent are the gains? Did the chosen trader make all of his gains in one month and then stop trading for the rest of the year? Consistency is essential for long-term success.
What is your current drawdown? This shows how much money the trader has lost. You want to emulate traders who balance profits and risk, so anything less than 20% is OK.
Remember that regardless of whatever trader you choose to copy, Bexplus puts you in control. You may choose how much risk to take, how much cash to contribute, and even when to stop copying them. One of Bexplus’s missions is to provide you with copy trading services that are secure and simple, while also optimizing your rewards and minimizing your risk.
Bexplus: A Professional Exchange with Unique Copy Trading
Bexplus is a leading crypto derivatives trading platform offering copy trading on various trading pairs: BTC, ETH, ADA, DOGE, XRP, etc. Bexplus is popular among over two million traders from over 200 countries/regions. In addition, it is safe for being accredited by U.S.MSB (Money Services Business).
Advantages of Copy Trading on Bexplus
Safe and Reliable
The Copy Trading on Bexplus is safe and reliable, deserving the trust of the followers. All traders in Bexplus’s Copy Trading have been strictly reviewed by Bexplus. Their historical transaction data are visible, traceable, and transparent. Also, the traders’ data come from Bexplus’s real market, which is authentic and timeless.
Take Profits Easily and Freely
Maybe you have manually followed good traders before, but not every order can be kept up in time. However, you don’t need to worry about it after joining Bexplus’ copy trading. In Bexplus, you will automatically synchronize the opening/closing actions of the traders you follow after choosing to follow an order. Instead of observing and researching the market painstakingly, you can just follow the excellent strategists in the industry and then enjoy high returns easily.
During the process of copy trading, you can also freely set the copy modes, including the copy-trade volume, ratio, as well as the take-profit and stop-loss points to control the risk. At the same time, you have the right to suspend, resume or terminate the order at any time, too.
Disclaimer: This publication is sponsored. Coinspeaker does not endorse or assume responsibility for the content, accuracy, quality, advertising, products, or other materials on this web page. Readers are advised to conduct their own research before engaging with any company mentioned. Please note that the featured information is not intended as, and shall not be understood or construed as legal, tax, investment, financial, or other advice. Nothing contained on this web page constitutes a solicitation, recommendation, endorsement, or offer by Coinspeaker or any third party service provider to buy or sell any cryptoassets or other financial instruments. Crypto assets are a high-risk investment. You should consider whether you understand the possibility of losing money due to leverage. None of the material should be considered as investment advice. Coinspeaker shall not be held liable, directly or indirectly, for any damages or losses arising from the use or reliance on any content, goods, or services featured on this web page.
